Leasing

Tesla Starts Leasing Unit for Businesses

Tesla Motors will begin offering a leasing program to small- and medium-sized businesses through its newly started Tesla Finance unit, the automaker has announced.

Under the leasing program, customers can configure their Model S battery-electric vehicle on Tesla's website. The Model S carries a starting retail price of $71,000.

Tesla's lease agreement is less than three pages, and can be signed electronically. Customers can view a digital version, and even tap a button on their Model S 17-inch touchscreen to complete delivery.

The new lease program also includes Tesla's resale value guarantee, which establishes a value for the vehicle at the start of the lease term. Customers will also be offered financing options by Tesla banking partners.

Leasing

Merchants Fleet has signed a 10-year lease to move to a new corporate headquarters that would keep the fleet management company in southern New Hampshire. The new headquarters is slated to open this summer.

Merchants Fleet hosted its 2019 Employee Summit in Hooksett, New Hampshire, where the fleet management company detailed to corporate employees about its recent rebranding, 2018 growth, and future plans for the company.

ARI fleet customers will be able to view telematics data about the operating conditions of their General Motors vehicles in the fleet management company's fleet management portal, under a new data agreement.

Element Fleet Management has announced a five-point plan to "reset" its fleet business that includes internal actions, a $150 million operations investment, a $300 million share offering, a purchase and wind-down of its 19th Capital joint venture, and an accountability plan.